This blog is a personal account of things happening in my life and around me

Monday, 15 September 2008

World stock markets meltdown

The world stock markets took a beating this morning following the news that Lehman Brothers, the fourth-largest investment bank in the US have filed for bankruptcy. 5000 people in the London office have lost their jobs. Now HP is set to cut 25,000 jobs over the next three years. If this can happen to the biggest names in the business world, then nobody is immune from this once in a century economic crisis the world is undergoing at the moment.